The implied monthly steel consumption in India stood at 6.8 million tonne in February 2013, which is higher compared to the year-ago month and January 2013, according to a research by JP Morgan.
Companies have been able to raise prices particularly in the long products segment with the increase in consumption.
During the month under consideration, India imported 0.6 million tonne steel, which is 21 percent lower than those in January 2013. This is said to be the lowest in one year.
Even though demand for cement, which is another construction material, remains weak, the steel consumption figures surprised positively.